Thought I would resurrect this thread again because MT is still after his company tax cuts and still protecting all those millionaires not paying taxes. If he was a leftie, as many profess he is here, you would think he would redirect his energies to personal income tax cuts for all those that are struggling, the PAYG workers that are propping up the tax system. You know the ones, Menzies forgotten people,but oh forgot Menzies must be a leftie too. The LNP have lost their values under the right of the LNP and by and large MT is there on the right, just you folks don't get that because TA and Bernardi is so far right anything left of them is a leftie.
You know Menzies speech was about the middle class, the same middle class the LNP is screwing over by its ineptness to provide for affordable housing and for them to meet their cost of living pressures.
See, this is why the right are so dumb. If millionaires are not paying tax, and welfare recipients are not paying tax then the whole tax burden falls on middle income Australians, been PAYG workers (noting I wouldn't call someone. a PAYG worker, on the top tax bracket of $180,000 rich by the way if they lived in Sydney where the median house price is $1 million and child care costs are through the roof. In other words, the middle class who have seen average house prices rise from around 3 times in the 1980s to over 5 times in all Australian cities and 10 times in some cities are 'subsidising' the rich and the poor whilst paying a lot of tax and struggling to make ends meet themselves (especially if they have children and that is why the Oz economy is sick).
The whole idea of tax reform is to spread the burden away from the middle class propping up the rest (time to change NG rules, tax trusts appropriately, deal with Howard's giveaways that caused structural deficits and then tackle spending as Oz has a revenue and spending problem) and to deal with economic slowdown give some tax cuts to those earning up to $120,000 per year (and yes when you reduce tax rates even those on $180,000 a year benefit get a tax cut as they pay less tax due to overall scale reduction) because that will have a bigger impact than the Laffer curve nonsence of company tax cuts.
A better way to put it is that those between $140,000 - $350,000 PAYG workers (note these people will be on the highest and 2nd highest tax brackets) pay the bulk of Australia's personal income tax. Note the scales again, none are millionaires but do all the lifting as PAYG workers. And as I said, someone, as a PAYG worker, on $180,000 with two kids with an average mortgage in Sydney and Melbourne would not refer to themselves as been rich by the way. Someone on $120,000 with an average mortgage and two kids in those two cities would say they are struggling under the weight of the mortgage payments, child care costs and cost of living. Yes give more tax benefits to the over $1 million club and companies, as against personal income tax cuts to those under $150,000 PAYG workers.
As I said Australia has a revenue and spending problem, and some of these concessions (like NG, how trusts are taxed and set up) need to be examined fully. Anyway, LNP are gone and the problem is how far will the ALP go, and I suspect they will go a lot further tan what I would like. If MT had any smarts he would do some things himself (like cap total NG deductions to $30,000 regardless of how many houses - a house/land never devalues to zero) and differentiate himself from the ALP. As it is the LNP are in dreamland, PAYG workers are pissed and the LNP are history. A start would be abandon the company tax cuts as laffer curve is a joke (and Oz has imputation and no state income tax) and put that money into personal income tax cuts for those earning up to $150,000 per year (andyes those over $180,000 will still benefits from lower scales etc).
But a rightie won't listen to the above, because MT has forgotton about Menzies forgotten people, and now the middle class are looking at the ALP to find the solutions (just as they did in the 1980s). All IMO
